Sandy Spring Bancorp Stock Forecast
Sandy Spring Bancorp stock price ended at $21.49 on Friday, after gaining 0.562%.
(Updated on Apr 26, 2024)
The Sandy Spring Bancorp stock price gained 0.562% on the last trading day (Friday, 26th Apr 2024), rising from $21.37 to $21.49. During the last trading day the stock fluctuated 2.08% from a day low at $21.19 to a day high of $21.63. The price has been going up and down for this period, and there has been a 5.86% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 284 thousand shares were bought and sold for approximately $6.11 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.78% during the next 3 months and, with a 90% probability hold a price between $17.17 and $20.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SASR Signals & Forecast
The Sandy Spring Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.12 and $21.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sandy Spring Bancorp stock
Sandy Spring Bancorp finds support from accumulated volume at $20.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.440 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 3.86%.
Our recommended stop-loss: $20.62 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SASR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sandy Spring Bancorp to open at $21.44, and during the day (based on 14 day Average True Range), to move between $20.75 and $22.23, which gives a possible trading interval of +/-$0.741 (+/-3.45%) up or down from last closing price. If Sandy Spring Bancorp takes out the full calculated possible swing range there will be an estimated 6.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.77 (1.30%) than the support at $20.94 (2.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sandy Spring Bancorp stock A Buy?
Sandy Spring Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.818 Hold/Accumulate Unchanged
Predicted Opening Price for Sandy Spring Bancorp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $21.44 ( 0.248%) | $21.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SASR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.88 | 1.80 % | |
| R2 | 21.71 | 1.02 % | ||
| R1 | 21.60 | 0.534 % | ||
| Current price: | 21.49 | |||
| Support | S1 | 21.27 | -1.03 % | |
| S2 | 21.16 | -1.51 % | ||
| S3 | 21.00 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.11 | 2.89 % | |
| R2 | 21.91 | 1.95 % | ||
| R1 | 21.77 | 1.30 % | ||
| Current price | 21.49 | |||
| Support | S1 | 20.94 | -2.56% | |
| S2 | 20.68 | -3.77% | ||
| S3 | 20.46 | -4.79% |
SASR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 07, 2024 | $0 | 0% |
| 2 | Jan 31, 2024 | Feb 13, 2024 | Feb 21, 2024 | $0.340 | 1.55% |
| 3 | Oct 26, 2023 | Nov 07, 2023 | Nov 15, 2023 | $0.340 | 1.45% |
| 4 | Jul 26, 2023 | Aug 08, 2023 | Aug 16, 2023 | $0.340 | 1.50% |
| 5 | Apr 26, 2023 | May 09, 2023 | May 17, 2023 | $0.340 | 1.54% |
FAQ
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